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Nonprofit · EIN 22-1054157

LAKE PARSIPPANY PROPERTY OWNERS

Tax-exempt (reinstated) · PARSIPPANY, NJ 07054

Financials

$446K$501K2023$512K$523K2024
Revenue Expenses · by fiscal year end
Financials of LAKE PARSIPPANY PROPERTY OWNERS by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$511,926$523,148-$11,222$812,130$32,568$779,562
December 31, 2023990$445,504$501,244-$55,740$648,348$26,009$622,339
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$447,358
Membership dues
$447,358
Program service revenue
$0
Investment income
$18,669
Net rental income
$45,899
Other revenue
$45,899

Expenses

Grants and similar amounts paid
$0
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Program services (functional)
$523,148

Balance sheet and other

Total assets, start of year
$648,348
Total assets, end of year
$812,130
Total liabilities, end of year
$32,568
Net assets, end of year
$779,562
Land, buildings and equipment
$185,100
Net assets without donor restrictions
$506,189
Net assets with donor restrictions
$273,373
Gross receipts
$511,926
Employees
0
Volunteers
50
Year formed
1933
State of legal domicile
NJ

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
PULKIT DESAIPRESIDENT
Officer
30$0
DANIEL NAZZAROSECRETARY
Officer
30$0
MANISHA MANSURIAREPRESENTATIVE
Officer
5$0
NIRAV PATELVICE PRESIDENT
Officer
10$0
TARAK BHATTSECRETARY
Officer
20$0
NISHAN SEALTREASURER
Officer
10$0
RINAM SHAHDISTRICT REPRES
Officer
5$0
MANOJKUMAR PATELDISTRICT REPRES
Officer
5$0
DEEPAK CHANDAKDISTRICT REPRES
Officer
5$0
DARSHANA KALAVADIAREPRESENTATIVE
Officer
5$0
JAGDISH PRAJAPATIREPRESENTATIVE
Officer
5$0
RUSHABH MODIREPRESENTATIVE
Officer
5$0
DONALD PHELPSREPRESENTATIVE
Officer
5$0
MARY FREEREPRESENTATIVE
Officer
5$0
DEEPA TAILORREPRESENTATIVE
Officer
5$0
990 for the year ended December 31, 2023: 15 people
NameTitleHours / weekCompensation
PULKIT DESAIPresident
Trustee or director, Officer
15$0
DANIEL NAZZAROSecretary
Officer
15$0
Manisha MansuriaRepresentative
Officer
0$0
NIRAV PATELVice President
Officer
15$0
TARAK BHATTSecretary
Officer
15$0
Nishan SealTreasurer
Officer
0$0
Rinam ShahDistrict Repres
Officer
0$0
Manojkumar PatelDistrict Repres
Officer
0$0
Deepak ChandakDistrict Repres
Officer
0$0
Darshana KalavadiaRepresentative
Officer
0$0
Jagdish PrajapatiRepresentative
Officer
0$0
Rushabh ModiRepresentative
Officer
0$0
Donald PhelpsRepresentative
Officer
0$0
Mary FreeRepresentative
Officer
0$0
Deepa TailorRepresentative
Officer
0$0

Address and contacts

Address (IRS master file)
PO BOX 62, PARSIPPANY, NJ 07054-0062
In care of
% PULKIT DESAI
Principal officer (990 for 2024)
NIRAV PATEL, PO BOX 62, PARSIPPANY, NJ 07054
Signed the 990
NIRAV PATEL, PRESIDENT
Phone
(646) 369-9169
Return prepared by
JMG CPAS TAX AND ADVISORS LLC

Mission

CONSISTENT WITH THE PAST, WE CONTINUE TO PROVIDE RECREATION ACTIVITIES TO OUR MEMEMBERS SUCH AS SWIMMING, FISHING, BOATING AND OTHER INTRAMURAL SPORTS. AS WE ARE A LAKE COMMUNITY SITUATION IN NEW JERSEY, OUR LOCAL CLIMATE GREATLY IMPACTS THE USE OF OUR LAKE BY OUR MEMBERS WITH THE SUMMER SEASON BEING THE PERIOD OF GREATEST USAGE. A SMALL PORTION OF THE REVENUE IS DERIVED FROM THE RENTAL OF OUR OWNED CLUBHOUSE WHERE MEMEBERS AND NON-MEMBERS MAY RENT THE FACILITY TO HOST A PRIVATE EVENT (E.G. BIRTHDAY, GRADUATION, ETC...)

990 for the year ended December 31, 2024

Program accomplishments

  • LAKE PROPERTY OWNERS ASSOCIATION.
    Expenses $523,148

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
22-1054157
Tax-exempt status
501(c)(4): Social welfare organization
Donations deductible
No
Exempt since
2018
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$812,130
Income (IRS master file)
$511,926

Revocation and reinstatement

Exemption revoked
May 15, 2014
Posted by the IRS
October 15, 2014
Reinstated
Effective May 15, 2014

From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$511,926$523,148$812,130IRS
990December 2023$445,504$501,244$648,348XML
990December 2022$469,703$458,014$724,902IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2019–––IRS
990-EZDecember 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 22-1054157).

Questions about LAKE PARSIPPANY PROPERTY OWNERS

What is the EIN of LAKE PARSIPPANY PROPERTY OWNERS?
The employer identification number (EIN) of LAKE PARSIPPANY PROPERTY OWNERS is 22-1054157.
Is LAKE PARSIPPANY PROPERTY OWNERS tax-exempt?
Yes. The IRS revoked its exemption on May 15, 2014 and reinstated it effective May 15, 2014.
Are donations to LAKE PARSIPPANY PROPERTY OWNERS tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does LAKE PARSIPPANY PROPERTY OWNERS file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of LAKE PARSIPPANY PROPERTY OWNERS due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did LAKE PARSIPPANY PROPERTY OWNERS last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of LAKE PARSIPPANY PROPERTY OWNERS?
The 990 for the year ended December 31, 2024 names NIRAV PATEL.
Who are the officers and directors of LAKE PARSIPPANY PROPERTY OWNERS?
The 990 for the year ended December 31, 2024 lists 15 people; 0 received compensation from the organization.
How much revenue does LAKE PARSIPPANY PROPERTY OWNERS have?
On its 990 for the year ended December 31, 2024 it reported revenue of $511,926, expenses of $523,148 and total assets of $812,130 at year end.

Other nonprofits in PARSIPPANY

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